Maxwell Technologies Completes Sale of Defense Contracting Business

SAN DIEGO, April 2 /PRNewswire/ -- Maxwell Technologies, Inc.
(Nasdaq: MXWL) announced today that it has completed the sale of its defense
contracting business for a total of approximately $20 million through separate
transactions with two purchasers.
Carl Eibl, Maxwell's president and chief executive officer, said that
proceeds of the sale will be used to pay down bank debt incurred over the past
year to build and outfit new production facilities and reshape the company to
focus on its commercial power and computing businesses.
"This completes the process we began in early 2000 to transform Maxwell
into a product-driven, commercial enterprise," Eibl said. "We are pleased to
have been able to place our defense contracting business and nearly all of its
employees with two leading players in the industry."
Maxwell Technologies applies industry-leading capabilities in power and
computing to develop and market products for customers in multiple industries,
including transportation, telecommunications, consumer and industrial
electronics, medical and aerospace.

SOURCE Maxwell Technologies, Inc.

SAN DIEGO, April 2 /PRNewswire/ -- Maxwell Technologies, Inc.
(Nasdaq: MXWL) announced today that it has completed the sale of its defense
contracting business for a total of approximately $20 million through separate
transactions with two purchasers.
Carl Eibl, Maxwell's president and chief executive officer, said that
proceeds of the sale will be used to pay down bank debt incurred over the past
year to build and outfit new production facilities and reshape the company to
focus on its commercial power and computing businesses.
"This completes the process we began in early 2000 to transform Maxwell
into a product-driven, commercial enterprise," Eibl said. "We are pleased to
have been able to place our defense contracting business and nearly all of its
employees with two leading players in the industry."
Maxwell Technologies applies industry-leading capabilities in power and
computing to develop and market products for customers in multiple industries,
including transportation, telecommunications, consumer and industrial
electronics, medical and aerospace.
SOURCE Maxwell Technologies, Inc.